Genuine Parts (GPC) Elects Robert Loudermilk, Jr. to Board; Declares $0.41 Quarterly Dividend, 3.9% Yield

Genuine Parts Company (NYSE: GPC), announced the election of Robert C. "Robin" Loudermilk, Jr., as a new Director of the Company. Mr. Loudermilk is currently President and Chief Executive Officer of Aarons, Inc. Mr. Loudermilk has held the position of President and Chief Operating Officer for 13 years and has been Chief Executive Officer for two years. Mr. Loudermilk has served as a Director of Aaron's since 1983. Aarons, Inc., a NYSE company, is the nation's leader in sales and lease ownership, including specialty retailing of office furniture, home furnishings, appliances and electronics. Mr. Gallagher stated, "Robin Loudermilk is a successful executive with a wealth of business experience and knowledge. We are fortunate to have him joining our Board and we look forward to his contributions in the coming years." The Board of Directors of Genuine Parts Company declared a regular quarterly cash dividend of $0.41 per common share, $1.64 annualized. The dividend is payable October 1, 2010 to shareholders of record September 10, 2010. The ex-dividend date is September 8, 2010. Yield on the dividend is 3.9%.... Read more

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